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Location theory has become an integral part of economic geography, regional science, and spatial economics. Location theory addresses questions of what economic activities are located where and why. Location theory or microeconomic theory generally assumes that agents act in their own self-interest. Firms thus choose locations that maximize ...
In geometry, the Weber problem, named after Alfred Weber, is one of the most famous problems in location theory.It requires finding a point in the plane that minimizes the sum of the transportation costs from this point to n destination points, where different destination points are associated with different costs per unit distance.
The bid rent theory is a geographical economic theory that refers to how the price and demand for real estate change as the distance from the central business district (CBD) increases. Bid Rent Theory was developed by William Alonso in 1964, it was extended from the Von-thunen Model (1826), who analyzed agricultural land use.
Geography is an all-encompassing discipline that seeks an understanding of Earth and its human and natural complexities—not merely where objects are, but also how they have changed and come to be. While geography is specific to Earth, many concepts can be applied more broadly to other celestial bodies in the field of planetary science. [2]
They settled on five themes: location, place, relationships within places (later changed to human-environment interaction), relationships between places (later shortened to movement), and region. [4] The themes were not a "new geography" but rather a conceptual structure for organizing information about geography. [1]
The four traditions of geography have been widely used to teach geography in the classroom as a compromise between a single definition and memorization of many distinct sub-themes. [2] [5] There are many competing methods to organize geography. [6] The original four traditions have had several proposed changes. [5] [6]
The geopolitical theory of Ratzel has been criticized as being too sweeping, and his interpretation of human history and geography being too simple and mechanistic. Critically, he also underestimated the importance of social organization in the development of power.
Central place theory is an urban geographical theory that seeks to explain the number, size and range of market services in a commercial system or human settlements in a residential system. [1] It was introduced in 1933 to explain the spatial distribution of cities across the landscape. [ 2 ]